Baku to host Azerbaijan-British Business Forum

Baku Business Center on October 2, will host a business forum with the participation of representatives of companies from the UK.

The Fund Export and Investment Promotion in Azerbaijan (AZPROMO) told Turan that representatives of 12 companies that operate in the field of ICT, construction and education will arrive in Baku.

This week, a government delegation visited Baku headed by Minister of State for Trade and Investment Ian Livingstone. The Azerbaijani government has proposed to the British side to create a joint intergovernmental commission "for further expansion of ties."

According to the Ministry of Economy and Industry, in Azerbaijan there are 500 British companies. According to the State Statistics Committee, the country recorded more than 660 companies with British capital. This represents 9.6% of all foreign companies in Azerbaijan. In 2006, these companies were much more (743), and on the number of listed companies, Britain was second only after Turkey.

For 18 years (1995-2013), the volume of British investments in Azerbaijan's economy was $ 18 billion. During the eight months of this year, the figure was in manat equivalent 991,300,000.

In 2013, the trade turnover between Azerbaijan and Great Britain amounted to $ 1 billion 818,300,000, which is about $ 1 billion higher than in 2012. In this case, the balance was in favor of British exporters ($ 850 million.) In the first half of this year, trade between the two countries diminished to $ 384.4 million. This year Azerbaijan has exported to Britain 135 000 tons of crude oil and 2,700 tons of aviation fuel. In the opposite direction mainly come ferrous metals, electrical equipment and appliances, vehicles, etc. --08B--